US Holiday Retail Spending Up Almost 5% as Online Sales Soar, Visa Says

Investopedia02:29

Key Takeaways Overall holiday retail spending in the U.S. increased 4.8% from last year, according to a study by Visa.People still like to shop in person, with Visa reporting that 77% of total holiday...

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The growth is across all forms of payment—including cash and checks—and is not adjusted for inflation.While consumers did a healthy share of their shopping in stores—Visa said 77% of total payment volume was made in brick-and-mortar locations—online spending increased at a greater clip.\"This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences—and went online—to purchase gifts and celebrate the holidays with friends and family,\" Visa chief","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"V":"Visa"},"translate_title":"Visa表示，随着在线销售飙升，美国假日零售支出增长近5%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"V":1},"content_text":"Key Takeaways\nOverall holiday retail spending in the U.S. increased 4.8% from last year, according to a study by Visa.People still like to shop in person, with Visa reporting that 77% of total holiday retail spending occurred in brick-and-mortar stores.But online shopping grew at a faster rate than in-store spending, Visa said, showing that e-commerce is having a particularly strong season.\n Cash registers, both physical and virtual, have been abuzz this holiday season.\n\n\n Americans spent 4.8% more over the seven weeks starting Nov. 1 than last year, according to data Visa (V) released Monday. The growth is across all forms of payment—including cash and checks—and is not adjusted for inflation.\n\n\n While consumers did a healthy share of their shopping in stores—Visa said 77% of total payment volume was made in brick-and-mortar locations—online spending increased at a greater clip.\n\n\n \"This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences—and went online—to purchase gifts and celebrate the holidays with friends and family,\" Visa chief economist Wayne Best said.\n\n\n  Visa Says Online Spending Jumps 7.1% From 2023  \n Other retail analysts have also highlighted a surge in digital shopping, and credited e-commerce with capturing most of the growth in holiday spending. Online spending jumped 7.1% year-over-year while in-store spending rose 4.1%, Visa said.\n\n\n Sizable sales jumps occurred in clothing and accessories (5.0%), building materials (4.7%), and electronics (4.2%), Visa said.\n\n\n \"This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy,\" Best said.\n\n\n Experts generally anticipate a 3% increase in seasonal spending this year from 2023 levels, with the National Retail Federation (NRF) predicting total holiday spending in November and December up 2.5% to 3.5% to between $979.5 billion and $989 billion. \n\nDo you have a news tip for Investopedia reporters? 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